Swedbank AB Has $111.70 Million Position in ResMed Inc. $RMD

Swedbank AB increased its stake in shares of ResMed Inc. (NYSE:RMD) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,951 shares of the medical equipment provider’s stock after buying an additional 35,632 shares during the quarter. Swedbank AB owned about 0.30% of ResMed worth $111,701,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its position in ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 68 shares in the last quarter. Golden State Wealth Management LLC grew its position in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in ResMed during the first quarter worth approximately $45,000. Groupe la Francaise acquired a new stake in ResMed during the first quarter worth approximately $45,000. Finally, CVA Family Office LLC grew its position in ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock worth $47,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares of the company’s stock, valued at approximately $127,303,978.44. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the transaction, the director directly owned 68,273 shares of the company’s stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,588 shares of company stock valued at $5,289,241. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.5%

Shares of NYSE:RMD opened at $273.01 on Friday. The firm has a market cap of $39.97 billion, a P/E ratio of 28.71, a P/E/G ratio of 1.83 and a beta of 0.85. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The business has a fifty day simple moving average of $275.60 and a 200 day simple moving average of $249.85.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.08 EPS. Analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were given a $0.60 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 25.24%.

Wall Street Analyst Weigh In

RMD has been the topic of a number of research analyst reports. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. William Blair raised ResMed to a “strong-buy” rating in a report on Friday, August 1st. KeyCorp raised their target price on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Citigroup initiated coverage on ResMed in a report on Thursday. They issued a “buy” rating and a $330.00 target price on the stock. Finally, UBS Group raised their target price on ResMed from $285.00 to $325.00 and gave the company a “buy” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $292.00.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.